Scribd says it has over 500,000 subscribers paying $8.99/month

Scribd’s $8.99/month subscription service started out with only ebooks. Over time, it’s expanded to audiobooks, sheet music, documents, magazines — and, as of Tuesday, newspapers. “Select articles” from The New York Times, The Wall Street Journal, and The Guardian, as well as some archival content from the Financial Times, will now be available to Scribd subscribers.

And Scribd says there are quite a lot of subscribers: The service now has over half a million paying subscribers, paying $8.99 a month, and the company is profitable. I was so surprised by the subscriber number that I asked CEO Trip Adler to repeat himself; it’s true, he said: “We have a $50 million revenue run rate.” The San Francisco–based company now has more than 110 employees.

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